IndexIQ Advisors LLC Trims Position in Tractor Supply (NASDAQ:TSCO)

IndexIQ Advisors LLC lessened its stake in shares of Tractor Supply (NASDAQ:TSCOGet Rating) by 89.7% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,894 shares of the specialty retailer’s stock after selling 16,511 shares during the quarter. IndexIQ Advisors LLC’s holdings in Tractor Supply were worth $442,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in TSCO. Norges Bank purchased a new position in Tractor Supply during the 4th quarter valued at about $263,044,000. Caisse DE Depot ET Placement DU Quebec grew its holdings in Tractor Supply by 137.3% during the 4th quarter. Caisse DE Depot ET Placement DU Quebec now owns 652,483 shares of the specialty retailer’s stock valued at $155,682,000 after buying an additional 377,552 shares in the last quarter. Ardevora Asset Management LLP purchased a new position in Tractor Supply during the 1st quarter valued at about $70,604,000. Victory Capital Management Inc. grew its holdings in Tractor Supply by 257.0% during the 1st quarter. Victory Capital Management Inc. now owns 394,967 shares of the specialty retailer’s stock valued at $88,810,000 after buying an additional 284,339 shares in the last quarter. Finally, Envestnet Asset Management Inc. grew its holdings in Tractor Supply by 60.0% during the 4th quarter. Envestnet Asset Management Inc. now owns 677,144 shares of the specialty retailer’s stock valued at $161,567,000 after buying an additional 253,809 shares in the last quarter. Hedge funds and other institutional investors own 83.17% of the company’s stock.

Tractor Supply Stock Performance

Shares of TSCO stock opened at $189.36 on Friday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.33 and a current ratio of 1.44. Tractor Supply has a fifty-two week low of $166.49 and a fifty-two week high of $241.54. The stock has a 50 day moving average price of $195.71 and a two-hundred day moving average price of $208.01. The company has a market capitalization of $21.19 billion, a P/E ratio of 20.90, a PEG ratio of 1.97 and a beta of 0.90.

Tractor Supply (NASDAQ:TSCOGet Rating) last announced its quarterly earnings data on Thursday, July 21st. The specialty retailer reported $3.53 earnings per share for the quarter, beating the consensus estimate of $3.51 by $0.02. Tractor Supply had a return on equity of 53.29% and a net margin of 7.76%. The firm had revenue of $3.90 billion during the quarter, compared to the consensus estimate of $3.89 billion. During the same quarter in the previous year, the company posted $3.19 earnings per share. The business’s revenue was up 8.4% on a year-over-year basis. Analysts expect that Tractor Supply will post 9.58 earnings per share for the current year.

Tractor Supply Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 8th. Investors of record on Wednesday, May 25th were issued a dividend of $0.92 per share. The ex-dividend date of this dividend was Tuesday, May 24th. This represents a $3.68 dividend on an annualized basis and a dividend yield of 1.94%. Tractor Supply’s dividend payout ratio is presently 40.62%.

Wall Street Analyst Weigh In

Several research analysts have recently commented on TSCO shares. Wedbush reissued a “neutral” rating on shares of Tractor Supply in a report on Friday, April 22nd. MKM Partners started coverage on Tractor Supply in a report on Thursday, July 28th. They set a “buy” rating and a $230.00 price objective for the company. Morgan Stanley cut their price objective on Tractor Supply from $235.00 to $220.00 and set an “equal weight” rating for the company in a report on Monday, April 25th. Citigroup boosted their price objective on Tractor Supply from $240.00 to $250.00 and gave the stock a “buy” rating in a report on Friday, April 22nd. Finally, The Goldman Sachs Group cut their price objective on Tractor Supply from $260.00 to $207.00 and set a “buy” rating for the company in a report on Monday, June 27th. Six investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $240.53.

Insider Activity at Tractor Supply

In related news, Director Cynthia T. Jamison sold 5,200 shares of the company’s stock in a transaction that occurred on Thursday, May 12th. The stock was sold at an average price of $195.10, for a total transaction of $1,014,520.00. Following the completion of the transaction, the director now owns 24,280 shares in the company, valued at $4,737,028. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 0.70% of the stock is owned by corporate insiders.

Tractor Supply Company Profile

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Tractor Supply Company operates as a rural lifestyle retailer in the United States. The company offers a selection of merchandise, including equine, livestock, pet, and small animal products necessary for their health, care, growth, and containment; hardware, truck, towing, and tool products; seasonal products, such as heating products, lawn and garden items, power equipment, gifts, and toys; work/recreational clothing and footwear; and maintenance products for agricultural and rural use.

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Institutional Ownership by Quarter for Tractor Supply (NASDAQ:TSCO)

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